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Registration number: 02822699

Fizzbomb Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2023

image-name
 

Fizzbomb Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 9

 

Fizzbomb Ltd

Company Information

Directors

Mr Kes Gray

Mrs Claire Laura Gray

Registered office

Unit 3, Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

Accountants

Integer
Chartered Accountants
Unit 3, Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Fizzbomb Ltd
for the Year Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fizzbomb Ltd for the year ended 31 May 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Fizzbomb Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fizzbomb Ltd and state those matters that we have agreed to state to the Board of Directors of Fizzbomb Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fizzbomb Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fizzbomb Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fizzbomb Ltd. You consider that Fizzbomb Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Fizzbomb Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Integer
Chartered Accountants
Unit 3, Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

21 February 2024

 

Fizzbomb Ltd

(Registration number: 02822699)
Abridged Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

3,597

2,120

Investments

4

292

292

 

3,889

2,412

Current assets

 

Stocks

5

10,238

10,507

Debtors

196,436

181,660

Cash at bank and in hand

 

30,680

93,502

 

237,354

285,669

Prepayments and accrued income

 

593

954

Creditors: Amounts falling due within one year

(63,514)

(47,742)

Net current assets

 

174,433

238,881

Total assets less current liabilities

 

178,322

241,293

Creditors: Amounts falling due after more than one year

(20,934)

(30,627)

Net assets

 

157,388

210,666

Capital and reserves

 

Called up share capital

6

61

61

Retained earnings

157,327

210,605

Shareholders' funds

 

157,388

210,666

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Fizzbomb Ltd

(Registration number: 02822699)
Abridged Balance Sheet as at 31 May 2023

Approved and authorised by the Board on 21 February 2024 and signed on its behalf by:
 

.........................................
Mr Kes Gray
Director

.........................................
Mrs Claire Laura Gray
Director

 

Fizzbomb Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Other tangible assets

33% straight line

Office equipment

33% straight line

Fixtures & fittings

25% straight line

Borrowings

 

Fizzbomb Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Fizzbomb Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

3

Tangible assets

Furniture, fittings and equipment
 £

Properties under construction
 £

Total
£

Cost or valuation

At 1 June 2022

8,284

6,305

14,589

Additions

3,003

-

3,003

Disposals

(800)

-

(800)

At 31 May 2023

10,487

6,305

16,792

Depreciation

At 1 June 2022

6,165

6,304

12,469

Charge for the year

1,527

-

1,527

Eliminated on disposal

(801)

-

(801)

At 31 May 2023

6,891

6,304

13,195

Carrying amount

At 31 May 2023

3,596

1

3,597

At 31 May 2022

2,119

1

2,120

4

Investments

Total
£

Cost or valuation

At 1 June 2022

292

Provision

Carrying amount

At 31 May 2023

292

At 31 May 2022

292

2023
£

2022
£

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Fizzbomb Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Get Well Friends Ltd

Unit 3 Upp Hall Farm,
Slamons Lane,
Colchester, Essex, CO6 1RY

England

Ordinary

100%

100%

UK Carp Directory Ltd

Unit 3 Upp Hall Farm
Salmons Lane
Colchester, Essex, CO6 1RY

England

Ordinary

100%

100%

Fizzbomb Creative Ignition Ltd

Unit 3 Upp Hall Farm
Salmons Lane
Colchester, Essex, CO6 1RY

England

Ordinary

75%

75%

Oi! Licensing Ltd

Unit 3 Upp Hall Farm, Salmons Lane, Colchester, Essex, CO6 1RY

England

Ordiinary

50%

50%

Subsidiary undertakings

Get Well Friends Ltd

The principal activity of Get Well Friends Ltd is the sale of Get Well Friends toys and books.

UK Carp Directory Ltd

The principal activity of UK Carp Directory Ltd is Dormant.

Fizzbomb Creative Ignition Ltd

The principal activity of Fizzbomb Creative Ignition Ltd is Dormant.

Oi! Licensing Ltd

The principal activity of Oi! Licensing Ltd is Licensing of Oi! Frog products.

5

Stocks

2023
£

2022
£

Other inventories

10,238

10,507

 

Fizzbomb Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

60

60

60

60

Ordinary B shares of £1 each

1

1

1

1

 

61

61

61

61

7

Related party transactions

Transactions with directors

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Mr Kes Gray

Directors loan account

(476)

282,800

(282,103)

221

         
       

 

2022

At 1 June 2021
£

Advances to director
£

Repayments by director
£

At 31 May 2022
£

Mr Kes Gray

Directors loan account

1,393

132,700

(134,569)

(476)

         
       

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,066

8,283

In respect of the highest paid director:

2023
£

2022
£

Remuneration

12,019

8,283